It is a natural choice for Malaysian companies looking to
expand beyond the shores
Johor Bahru, 17November 2016 – Labuan International
Business and Financial Centre (Labuan IBFC) offers cost-effective
and lucrative solutions to local businesses that are planning to
penetrate into the ASEAN's burgeoning markets. This was one of
the key takeaways from the Labuan IBFC-MICCI Malaysian Roadshow for
2016 in Johor Bahru today.
Local business owners looking to internationalise or regionalise
their businesses could achieve their expansion aims in a
cost-efficient way by considering Labuan IBFC.
With ASEAN recognised as one of the most dynamic regions in the
world and the economic integration through the ASEAN Economic
Community (AEC), investors and businesses, including those based in
Malaysia, are able to gain access to a larger marketplace in
For this, Labuan IBFC is an ideal entry point for Malaysian
investors and businesses into ASEAN, allowing companies to operate
in a tax and currency neutral environment offered in the
Malaysian businesses are able to leverage on these unique
qualities while operating in a well-regulated environment. Among
the solutions and services offered by the midshore centre are
leasing, commodity trading, wealth management and captive
Leasing business in Labuan IBFC has been experiencing steady
growth over the years with the total number of leasing companies
increased to 386 and the total assets leased amounting to USD52.5
billion in September 2016.
Labuan IBFC also identifies immense opportunities in offering
risk solutions to companies in the Asia Pacific region. On wealth
management, Labuan IBFC offers unique proposition values as the
only international financial centre in Asia to have a legislation
that offers private foundations and special purpose trusts,
including Islamic foundations or waqf.
Currently, Labuan IBFC is home to more than 13,000 companies,
212 insurance companies and 54 banks establishing a strong and
sound financial infrastructure.
MICCI President Datuk Wira Jalilah Baba said, "We highly
encourage the members of MICCI to take advantage of the trade and
investment opportunities in Labuan IBFC, especially for companies
which export their products and services."
MICCI Southern Chairman, Christina Tee Kim Chin, who is also the
CEO of Cape Manufacturing (M) Sdn Bhd said: "Labuan IBFC
provides the best choice of platform to maximise their trade
flexibility and opportunity under the same time zone in Asia
The roadshow consisted of a series of half-day masterclass with
a focus on introducing the midshore jurisdiction and its offerings,
ending with a panel discussion. It will also be in Kota Kinabalu,
Sabah for its final leg on November 22.
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